Kinetic Motor Company converts 18 lakh OCCPS

Kinetic Motor Company Ltd has announced that the Board of Directors of the Company at its meeting held on March 31, 2010, inter alia, has approved conversion of 18 lac Optionally Convertible Cumulative Preference Shares (OCCPS), earlier allotted on preferential basis to Micro Age Instruments Pvt. Ltd., a promoter group entity, into Equity shares, in terms of the Conversion Notice received from the said allottes. Each OCCPS has been converted into one Equity share of the face value of Rs. 10 each.

The total paid-up Equity share capital, accordingly, stands increased to 2,37,46,095 Equity shares of Rs. 10 each.

The stock closed the day at Rs.22.95, down by Rs.0.30 or 1.29%. The stock hit an intraday high of Rs.23.90 and low of Rs.22.60.

The total traded quantity was 89797 compared to 2 week average of 60919.

Source : Equity Bulls

Keywords